$52B US Top 4 Cloud Market Grows 37% in 2Q18, Highlighted by 46% Y/Y Growth in DC Equipment CAPEX, According to Cloud Report Unveiled by 650 Group
— Cloud market revenue expected to exceed $700B in 2022 as 650 Group First To Provide Comprehensive Analysis of Cloud Infrastructure + Services
PORTOLA VALLEY, Calif. August 20, 2018 — According to a newly released report issued by founding analysts of 650 Group, Cloud market revenue grew 36% Y/Y in 1Q18 to make for an $84B market. IaaS experienced the strong growth with 53% Y/Y growth. 2Q18 results are indicating significant sequential growth.
Found in its first Cloud Report, 650 Group covers Colocation, IaaS, SaaS, and Search & Social.
“The biggest Tech players define the cloud market, and considering its already robust size ($52B by just four companies), coupled with rapidly increasing adoption, it will continue to grow at a blistering pace up to 2022,” said Alan Weckel, founding analyst for 650 Group. “The emphasis is on helping consumers, governments and businesses access resources, communications and entertainment, in addition to critical services, ranging from finance/insurance and retail, to manufacturing and healthcare. With CAPEX reaching 62% growth stemming from the largest providers, the cloud market represents a strong growth opportunity for network, storage, component, and optical vendors supplying data center compute and connectivity.”
About 650 Group
650 Group is a leading Market Intelligence Research firm for communications, data center and cloud markets. Our team has decades of research experience, has worked in the technology industry, and is actively involved in standards bodies. 650 Group focuses on leading edge market trends and research and prides itself on first to market research.
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